Stock Picking (Beat Boho) Contest - V2.0

[easysurfer]

I may have to wait a quarter for it to turn around, but I doubt it. I rose to the middle of the pack two days ago but dropped by the time they refreshed the rankings. It's only 10:00 AM EST and the stock has been up over 7%. I don't know where that would put me but I may take a vacation for a quarter. The one thing I'll change is I'll wait longer than a day to buy in such a case.

You are a good sport taking our kidding.

Okay, here's a question to you as a "stock picker". Wouldn't want you to divulge any picking secrets , but how do you decide when to cut your losses or hold on on a stock?

Remember years back when there was talk about Apple not surviving as a company? When the stock went down to around $13 a share? I wonder if there were many folks then who "cut their losses" and sold apple vs ones that bought more. Or like me (kick myself a little) that didn't buy because I'm a fund person.

 

[Boho]

You are a good sport taking our kidding.

Okay, here's a question to you as a "stock picker". Wouldn't want you to divulge any picking secrets , but how do you decide when to cut your losses or hold on on a stock?

Remember years back when there was talk about Apple not surviving as a company? When the stock went down to around $13 a share? I wonder if there were many folks then who "cut their losses" and sold apple vs ones that bought more. Or like me (kick myself a little) that didn't buy because I'm a fund person.

I'll sell to cut my losses if there's decent indication that the price will drop and maintain the dropped price, like if there's new competition or a regulatory change or war or something. I'll also sell if there's a better deal.

I don't do research like Warren Buffett but I read the transcript of a conference call. It sounded like when oil prices go a certain way more small oil companies pop up and compete, so maybe that happened. But it already happened and I bought after the price significantly dropped and the last oil news was pretty neutral and the company looks strong (and it's just a game) so I'm holding.

 

[easysurfer]

I'll sell to cut my losses if there's decent indication that the price will drop and maintain the dropped price, like if there's new competition or a regulatory change or war or something. I'll also sell if there's a better deal.

I don't do research like Warren Buffett but I read the transcript of a conference call. It sounded like when oil prices go a certain way more small oil companies pop up and compete, so maybe that happened. But it already happened and I bought after the price significantly dropped and the last oil news was pretty neutral and the company looks strong (and it's just a game) so I'm holding.

Though I have no real interest in going away from my passive investing strategy and start stock picking on my own, your approach to when to cut your losses actually sounds rational and not based on emotion alone.

 

[Boho]

My stock is up over 14% so far today but "Aegean Marine Petroleum Network Inc. (ANW) Ex-Dividend Date Scheduled for June 02, 2017." I hope Investopedia handles that properly.

 

[easysurfer]

My stock is up over 14% so far today but "Aegean Marine Petroleum Network Inc. (ANW) Ex-Dividend Date Scheduled for June 02, 2017." I hope Investopedia handles that properly.

Good thing you didn't panic.

 

[Lawrencewendall]

My stock is up over 14% so far today but "Aegean Marine Petroleum Network Inc. (ANW) Ex-Dividend Date Scheduled for June 02, 2017." I hope Investopedia handles that properly.

My dividends have showed up as cash. 10k for the month.

 

[OPULENT RV]

Hi Everyone,

I am RiskybusinessC2 I wish I could write option contracts in this game but we will see how I do with the late start.

 

[easysurfer]

Hi Everyone,

I am RiskybusinessC2 I wish I could write option contracts in this game but we will see how I do with the late start.

Hi Opulent RV/RiskybusinessC2,

Welcome to the contest.

Well, as of this morning you are right in the middle in 8th place in the standings. In neither a big advantage nor disadvantage. A really good start.

 

[Fermion]

Everyone, take your screenshots this week for your refrigerator because next week the top spot will be held by Fermion. Time to swing up.

 

[Boho]

Based on my current "account value" of $1,050,964.11, I'd be in third place in the rankings. I guess it will go up because yesterday it wasn't yet widely reported that the company made some adjustments.

 

[easysurfer]

Based on my current "account value" of $1,050,964.11, I'd be in third place in the rankings. I guess it will go up because yesterday it wasn't yet widely reported that the company made some adjustments.

Looks like you may leapfrog from worst to first by day's end.

 

[Boho]

I sold to cut my winnings and give others a chance.

 

[Fermion]

Actually if Boho now just buys total stock market index, in three years he will have proven he can beat an index investor.

 

[easysurfer]

Fun to see the various stock picking/investing styles come into play.

 

[easysurfer]

I sold to cut my winnings and give others a chance.

Just when I was ready to say "I told you so" that your system doesn't work, you leapfrog to the top. Oh brother ... .

 

[sengsational]

Actually if Boho now just buys total stock market index, in three years he will have proven he can beat an index investor.

He would be the rare gambler that quit while he was ahead.

 

[easysurfer]

He would be the rare gambler that quit while he was ahead.

The most difficult part though is knowing when to quit for good before greed takes over thinking this is all easy money.

 

[nun]

.......I've been a way for a few weeks and logging on I see that by doing absolutely nothing I've climbed to 5th place.......

 

[comsecga]

Not so fast Nun! I am inching my way up in the rankings. Go SHOP go!

 

[nun]

Not so fast Nun! I am inching my way up in the rankings. Go SHOP go!

I expect my 100% passive approach to put me somewhere in the middle, so 5th is higher than I expected.

 

[Lawrencewendall]

I haven't dug too deep on the site 'cause it's not real money but has anyone seen what they charge for buying on margin?

Edit: Based on what they charged for the month, it looks about 4% annually.

 

[easysurfer]

Will be a bit sad when the contest ends (plenty of time til then) as I treating this like real money .

 

[comsecga]

I got a little ahead of myself

The pullback in tech stocks yesterday was painful!

 

[Lawrencewendall]

Boho,
Nipping at your heels.

Lawrencewendall

 

[Boho]

Will be a bit sad when the contest ends (plenty of time til then) as I treating this like real money .

I'll have proven whatever there is to prove near the end and I'll feel free to play more for fun so I'm looking forward to it. I may end up ahead until the last week of the contest.

For the next contest I'm thinking of having people choose a stock for me and I'll go the entire contest trading only that stock.